This paper proposes a color image encryption algorithm based on a cloud model Fibonacci chaotic system, as well as a matrix convolution operation that can protect image content effectively and safely. The algorithm combines the cloud model with the generalized Fibonacci, creating a new complex chaotic system that realizes the dynamic random variation of chaotic sequences. The chaotic sequence is used to scramble the pixel coordinates of the mosaic images of the R, G, and B components of the color image. Then, the chaotic sequence value is used as a matrix convolution cloud algorithm that alternately updates the input value of the matrix convolution operation and the pixel value to obtain the permutation transformation of the original pixel value. Finally, the pixel values of the replacement and cloud model Fibonacci chaotic sequence and the pixel values of the front (rear) adjacent pixel points are subjected to a two-way exclusive XOR operation. Realizing the change of the arbitrary pixel value causes a chain transformation of the pixel values of all of the pixel points, and sequentially generates an encrypted image. Experiments show that the histogram of the encrypted image is smoother and adjacent pixels of the image have low correlation. In addition, this algorithm can resist attack experiments such as differential attack, select plaintext attack and noise attack and provides high encryption security, high anti-interference, and strong robustness. The dynamic chaotic system is used to realize the color image encryption of the dynamic key, and the encryption algorithm has higher security and the validity of the algorithm.